I'm sure Google is quietly laughing as they watch Facebook's stock drop further down the drain.
"People are disillusioned," Matt McCormick, who helps oversee $6.2 billion at Bahl & Gaynor Inc. in Cincinnati, said in a telephone interview. He doesn't own shares of Facebook. "A lot of investors believed the hype," he said. "In this type of volatile market environment, people are not going to take chances."
Facebook shares climbed as high as $45 on May 18, when the shares ended the day with a price-earnings ratio of 83.1, making the Menlo Park, California-based company more expensive than 99 percent of Standard & Poor's 500 Index stocks. The company went public as the equity index was heading for its biggest monthly decline since September.
|Student Loans Passed Credit Cards as America's Largest Source of Debt|
|"Those with a car could flee. Those with wealth could move into a hotel."|
|A Judge Stands up to Wall Street|
|Vancouver's Olympics Head for Disaster|
|Dubai Crisis Tests Laws of Islamic Financing|
|“These planets are more likely to look like giant eyeballs whose gaze is forever fixed on their host star.”|
|“This allows rail operators to instead focus on deeper psychological manipulation.”|
|Fake Name Generator|
|“A new privacy scandal that’s getting far less attention.”|
|Japanese Robot Serves Ice Cream From Inside a Vending Machine|
|How to Avoid Jury Duty|
|The (Very Scary) People of Public Transit|
|CaptchaTweet: Write Tweets in Captcha Form|
|Knowing how to operate a smartphone does not qualify as being tech savvy.|
|When the Wrong Hastag Can Get You Killed by an Assassination Drone|
|“Eliminating the time needed to stop and re-charge a conventional electric car’s battery.”|
|Bird Shit Advertising|